Q4 2025 Ladder Capital Corp Earnings Call Transcript
Key Points
- Ladder Capital Corp (LADR) achieved investment grade status in 2025, enhancing access to stable capital markets and lowering the cost of funds.
- The company generated distributable earnings of $109.9 million for the full year, delivering a 7.1% return on equity.
- Ladder Capital Corp (LADR) originated $1.4 billion in new loans in 2025, marking the highest annual volume since 2021.
- The company's securities portfolio, primarily AAA rated, totaled $2.1 billion, representing 39% of total assets, underscoring high credit quality.
- Ladder Capital Corp (LADR) maintains a strong liquidity position with $608 million, including $570 million of undrawn capacity in its unsecured revolver.
- Net interest income decreased quarter-over-quarter, attributed to timing of loan fundings and payoffs.
- Four loans totaling $129.7 million were on non-accrual as of year-end, including a new addition in the fourth quarter.
- The company faced challenges with office loan exposure, which declined from 14% to 11% of total assets by year-end.
- Ladder Capital Corp (LADR) experienced large payoffs in its loan portfolio over the last two years, impacting asset growth.
- The commercial mortgage market remains volatile, with concerns over AI impact and interest rate fluctuations affecting sectors.
Good morning and welcome to Ladder Capital Corp's earnings call for the fourth quarter of 2025. As a reminder, today's call is being recorded. This morning, Ladder released its financial results for the quarter and the year ended December 30, 2025.
Before the call begins, I'd like to call your attention to the customary safe harbor disclosure in our earnings release regarding forward-looking statements. Today's call may include forward-looking statements and projections, and we refer you to our most recent Form 10-k or important factors that could cause actual results to differ materially from these statements and projections.
We do not undertake any obligation to update our forward-looking statements or projections unless required by law. In addition, Ladder will discuss certain non-GAAP financial measures on this call which management believes are relevant to the assessing of company's financial performance.
Company's presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with
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